Technical Research | March 19, 2012

Daily Technical Report

Sensex (17466) / NIFTY (5318)

Exhibit 1: Nifty Daily Chart

On Friday, our Benchmark indices opened on a pessimistic

note and traded with extreme volatility throughout the

session to close marginally above the 5300 mark. On the

sectoral front, Oil & Gas, Power and Consumer Goods

were among the major looser, whereas FMCG ended on a

gaining side. The advance to decline ratio was strongly in

favor of declining counters. (A=1044 D=1801) (Source -

www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

17164 / 5163 and 17607 / 5350, respectively.

• The “20-Week EMA” is placed at 17150 / 5188 level.

• The Daily momentum oscillators and “3 & 8 EMA” are

negatively poised.

• Indices have closed around the

61.8% Fibonacci

retracement level of the rise from 17008 to 18041 / 5171

Source: Falcon

to 5500.

Actionable points:

Trading strategy:

View

Neutral

As mentioned in the previous weekly report, volatility surged

Resistance Levels

5353 - 5387

on the back of major domestic events. Further, strong

Support Levels

5305 - 5244

selling pressure on the Budget day dragged indices

significantly lower to test 61.8% Fibonacci retracement level

of the rise from 17008 to 18041 / 5171 to 5500. At this

juncture, the momentum oscillators and “3 & 8 EMA” on

daily chart are negatively poised. Hence, in the coming

week, if indices sustain below Friday’s low of 17426 /

5305, then we may witness further selling pressure. In this

scenario, markets may drift lower to test 17239 - 17008 /

5244 - 5171 levels. On the upside, 18040 / 5500 level is

likely to act as resistance for the Indices. A sustainable move

beyond this level may push indices higher to test swing high

of 18524 / 5630.

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Technical Research | March 19, 2012

Bank Nifty Outlook - (10391)

Exhibit 2: Bank Nifty Daily Chart

On Friday, in line with our benchmark indices, Bank Nifty

too traded with extreme volatility throughout the session.

The “Bearish Engulfing” candle stick pattern mentioned in

our previous report has been confirmed as the index

closed below 10556 levels. The negative crossover in

“RSI” momentum oscillator mentioned in our previous

report is still intact. Thus, if Bank Nifty sustains below

Friday’s low of 10348 then we may drift towards 10169 -

10073 levels. On the upside 10536 - 10700 levels are

likely to act as resistance in coming trading session.

Actionable points:

View

Negative Below 10348

Expected Target

10169 - 10073

Resistance Levels

10536 - 10700

Source: Falcon

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Technical Research | March 19, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,144

17,305

17,588

17,749

18,032

NIFTY

5,216

5,267

5,356

5,407

5,497

BANKNIFTY

10,040

10,216

10,524

10,700

11,008

ACC

1,304

1,322

1,339

1,356

1,373

AMBUJACEM

159

164

167

171

174

AXISBANK

1,157

1,187

1,233

1,263

1,309

BAJAJ-AUTO

1,689

1,705

1,731

1,748

1,773

BHARTIARTL

322

325

330

333

338

BHEL

254

264

279

289

305

BPCL

648

656

669

677

690

CAIRN

323

334

352

364

382

CIPLA

294

298

304

308

315

COALINDIA

333

337

343

347

353

DLF

189

193

197

201

206

DRREDDY

1,646

1,663

1,686

1,703

1,726

GAIL

354

360

370

376

385

HCLTECH

483

490

498

505

513

HDFC

654

660

669

675

683

HDFCBANK

493

500

513

520

532

HEROMOTOCO

1,898

1,927

1,955

1,984

2,012

HINDALCO

135

138

141

144

148

HINDUNILVR

380

385

388

394

397

ICICIBANK

884

901

927

944

971

IDFC

138

142

147

150

155

INFY

2,809

2,837

2,875

2,903

2,941

ITC

200

208

216

225

233

JINDALSTEL

544

560

582

597

619

JPASSOCIAT

KOTAKBANK

515

527

547

559

579

1,271

1,296

1,339

1,363

1,406

M&M

628

653

675

700

723

MARUTI

1,291

1,333

1,381

1,423

1,471

NTPC

165

169

175

179

185

ONGC

256

265

277

285

298

PNB

915

939

980

1,004

1,044

POWERGRID

104

106

109

111

114

RANBAXY

403

407

413

417

424

RCOM

RELIANCE

749

761

779

791

809

RELINFRA

608

620

640

652

672

RPOWER

125

128

132

135

140

SAIL

103

SBIN

2,126

2,177

2,266

2,317

2,406

SESAGOA

191

195

201

205

212

SIEMENS

731

751

783

804

836

STER

109

112

116

118

122

SUNPHARMA

501

523

558

581

615

SUZLON

TATAMOTORS

274

280

289

295

304

TATAPOWER

101

103

107

110

114

TATASTEEL

435

445

459

469

483

TCS

1,147

1,158

1,169

1,180

1,191

WIPRO

421

425

430

434

440

Technical Research Team

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Technical Report

RESEARCH TEAM

Shardul Kulkarni

Head - Technicals

Sameet Chavan

Technical Analyst

Sacchitanand Uttekar

Technical Analyst

Mehul Kothari

Technical Analyst

Ankur Lakhotia

Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to [email protected]

Research Team: 022-3952 6600

Website: www.angelbroking.com

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